After Augur broke the triangle pattern it went up to $124 all-time high, resulting in a 722% growth in just 5 weeks. The strong corrective wave followed, bringing the price back to the $39 support level, that is the high of the triangle pattern.
Currently, the price is rejecting the uptrend trendline and the $39 support. From this point is it likely that the uptrend will continue as the price seems very attractive, especially after the strong correction. While the price could consolidate and even get back slightly lower, the uptrend should remain valid, unless the $24 level is penetrated.
There are two major resistance levels that could be used as upside targets. First is $150 confirmed by two Fibonacci retracement levels applied to the triangle pattern and second Fibonacci applied to the corrective wave after the triangle pattern breakout. The second target is $170, and should only be reached if $150 resistance is broken.
Currently, the price is rejecting the uptrend trendline and the $39 support. From this point is it likely that the uptrend will continue as the price seems very attractive, especially after the strong correction. While the price could consolidate and even get back slightly lower, the uptrend should remain valid, unless the $24 level is penetrated.
There are two major resistance levels that could be used as upside targets. First is $150 confirmed by two Fibonacci retracement levels applied to the triangle pattern and second Fibonacci applied to the corrective wave after the triangle pattern breakout. The second target is $170, and should only be reached if $150 resistance is broken.
評論:
so far bounced nicely off the support
📱 Telegram: t.me/tradexcel